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Public construction insurance: the importance of properly insuring construction sites in the construction industry

On construction sites, the risk of accidents is very high.

It is therefore strongly recommended to take out insurance to be covered in the event of damage.

Some are mandatory while others are optional.

However, these insurance policies are not useless measures as they protect your construction machinery and others.

You therefore have nothing to fear in the case of operational losses, for example. What do you need to know about the importance of construction insurance?

Compulsory insurance

All construction insurance policies are primarily intended to protect you, your teams and your construction machinery. Here are those for which subscription is mandatory, as well as their meaning:

Ten year warranty

The customer benefits from coverage for a period of 10 years after delivery of the site. This insurance takes into account any hidden defects or defects in construction that result in deterioration of the building. Thus, its solidity may be compromised or its destination may be incorrect. This is the case when the appearance of cracks and other defects related to sealing. You pay for all repair work if your liability is proven.

This underlines the importance of having taken out this insurance, which covers the costs of the work.

Professional civil liability

Before construction starts, it would be ideal to take out this public construction insurance. You are thus covered in the event of damage to:

  • Yourself ;
  • Your employees;
  • Your premises;
  • Your Material;
  • Material damage and personal injury to third parties; during and after delivery of the site.

Depending on your insurance contract subscription, you can also choose related conditions and options:

  • Damage to a vehicle;
  • Flying over a construction site.

Non-compulsory insurance

These protections are certainly optional, but subscribing to them is strongly recommended. Your company will thus be protected against all possible risks that may arise on the construction site.

The two-year warranty

Also called warranty of proper operation, it protects the various equipment installed for two years after acceptance of the work. Everyone involved in a construction site should subscribe to this two-year guarantee. In addition, it takes into account everything that is not covered by the ten-year warranty.

Guaranteed perfect finish

This insurance gives the customer the opportunity to report defects in connection with construction or renovation work. Here is the considered duration of the year after the acceptance of the site. You are therefore obliged to repair all reported errors, regardless of their nature. Here are the various items covered by this insurance:

  • Piping;
  • The doors ;
  • The windows;
  • Tube;
  • Coatings.

Repairs must be carried out within a period set by both parties, namely the construction company and the client.

Professional multi-risk insurance

The importance of this insurance is specific. It covers both the company’s premises and its property. In the event of a claim such as water damage or otherwise, here is what is covered:

  • Professional premises;
  • The goods ;
  • the company’s equipment;
  • Operating losses;
  • construction machinery;
  • Legal protection.

It is possible to customize your professional multi-risk insurance contract by taking into account the needs of your business. Other specific and additional warranties may also be added. This is especially the case with:

  • Electrical damage insurance;
  • New equipment insurance.

Interruption insurance

Its importance is particularly revealed in the case of disasters on a construction site, which cause a reduction or total stoppage of work. Such consequences in most cases lead to a large loss of revenue for the company. You will then receive compensation from the business interruption insurance to limit the extent of the damage. Taxes and overheads are also covered.

Other items:

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